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Strategies & Market Trends : India Stocks
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From: Julius Wong10/16/2011 8:08:00 PM
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Wipro, Infosys Stand To Benefit From Growing Demand For Outsourcing
by: Morningstar October 16, 2011 | includes: ACN, CTSH, INFY, WIT
By Swami Shanmugasundaram

With the global economy in flux, investors have raised questions about the growth prospects of IT service providers. This fear has pummeled some of the top-tier service providers we cover, and current prices suggest a significant curtailment of IT services spending in the near and medium term. We think this is unlikely, as hiring patterns and order pipelines indicate that the growth momentum remains strong in the near term. Continued customer focus on cost efficiencies should help outsourcing achieve higher penetration in the medium term. Against this backdrop, we think narrow-moat firms Wipro ( WIT) and Infosys ( INFY) trade at large discounts, offering patient investors attractive risk/reward opportunities.

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